Upfront Fee

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Upfront Fee

A fee paid before a good is produced or a service is performed. The upfront fee is generally a portion of the total fee that the buyer must pay. For example, one may commission an artist to paint a portrait and pay a 20% upfront fee, paying the remainder when the portrait is finished. It is also called an advance fee.

But clients started to complain to the Ministry of Justice, the regulators of the claims management sector, that while McCaskill claimed to offer a no-win-no-fee service, they had failed to return upfront fees and were often late paying refunds following unsuccessful claims.

The legislation would also reduce upfront fees on refinances; eliminate appraisal costs for borrowers; and ensure that streamlined refinancing is available and consistent for all Fannie Mae and Freddie Mac borrowers whether or not they are underwater.

The company said its cards are the only chance many consumers have of getting a credit card and that its upfront fees of between $25 and $95 differ from those Congress tried to target in the CARD Act of 2009.

In October 2007, the Service outlined its position on the treatment of the various types of payments under collaboration agreements in Coordinated Issue Paper LMSB-04-1007-073, "Non Refundable Upfront Fees, Technology Access Fees, Milestone Payments, Royalties and Deferred Income Under a Collaboration Agreement"(10/18/2007) (the CIP).

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